Tuesday, December 04, 2012

Elizabeth Warren Wins Senate Banking Committee Seat

Ryan Grim reports that Elizabeth Warren has won a seat on the Senate Banking Committee.

WASHINGTON -- Nearly two years after Wall Street waged a successful campaign to keep consumer advocate Elizabeth Warren from running the Consumer Financial Protection Bureau, the incoming senator will be tapped to serve on the Banking Committee, according to four sources familiar with the situation. It's a victory for progressives who battled to win her a seat on the panel that oversees the implementation of Dodd-Frank and other banking regulations.

I have no doubt that the White House, Harry Reid and Mitch McConnell are receiving angry phone calls from Wall Street executives right now. It will be fun to watch the reaction from the talking heads on CNBC.